Progyny (NASDAQ:PGNY) Downgraded by KeyCorp

Progyny (NASDAQ:PGNY) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report released on Friday, MarketBeat Ratings reports.

A number of other equities analysts have also weighed in on the company. Leerink Partnrs reissued an “outperform” rating on shares of Progyny in a research report on Monday, February 26th. Truist Financial restated a “buy” rating and set a $46.00 price objective on shares of Progyny in a research report on Wednesday, April 17th. SVB Leerink started coverage on shares of Progyny in a research report on Monday, February 26th. They issued an “outperform” rating and a $49.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 price target on shares of Progyny in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.11.

Progyny Trading Up 1.1 %

Shares of PGNY stock opened at $32.50 on Friday. The company’s fifty day moving average price is $34.67 and its 200-day moving average price is $35.59. The stock has a market cap of $3.12 billion, a PE ratio of 52.42, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. Progyny has a 12 month low of $29.44 and a 12 month high of $44.95.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business had revenue of $269.94 million for the quarter, compared to the consensus estimate of $274.08 million. During the same period last year, the business posted $0.03 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. On average, sell-side analysts forecast that Progyny will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other news, Chairman David J. Schlanger sold 5,826 shares of Progyny stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total transaction of $219,873.24. Following the transaction, the chairman now owns 86,312 shares in the company, valued at approximately $3,257,414.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Progyny news, Chairman David J. Schlanger sold 5,826 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the completion of the transaction, the chairman now directly owns 86,312 shares in the company, valued at $3,257,414.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David J. Schlanger sold 71,272 shares of Progyny stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the transaction, the chairman now owns 86,312 shares in the company, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,770 shares of company stock valued at $3,853,985. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. RiverPark Advisors LLC lifted its holdings in shares of Progyny by 54.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company’s stock worth $40,000 after buying an additional 374 shares in the last quarter. TFC Financial Management Inc. bought a new position in shares of Progyny during the 1st quarter valued at about $42,000. Financial Management Professionals Inc. purchased a new position in shares of Progyny during the first quarter valued at about $52,000. Acadian Asset Management LLC purchased a new position in shares of Progyny during the third quarter valued at about $53,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after purchasing an additional 264 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.